U.S. Mint: 15% Increase In First-Day 2017 Gold Bullion Coin SalesBy Kitco News
Tuesday January 10, 2017 08:26
(Kitco News) - Along with the paper precious metals market, the physical market is off to a good start as the U.S. Mint said it saw strong demand for gold and silver bullion coins on the first day of sales in the new year.
The U.S. Mint started selling 2017-minted gold and silver coins Monday and reported strong demand compared to last year’s first-day sales. According to a press release, the mint sold 68,000 ounces of gold in various denominations of American Eagle gold bullion coins.
The Mint said that first-day sales increased 15% compared to 2016. One-ounce Buffalo bullion coins was slightly weaker, with first-day sales of 20,500 coins, down by 500 coins compared to last year.
Silver was even in stronger demand. On the first day of the new year, the Mint said it sold more than 3.7 million one-ounce coins, an increase of 35% compared to last year’s initial sales.
The coin sales come as gold and silver has seen a strong start to the year. Tuesday, on increased safe-haven demand, February Comex gold futures rose to their highest level in over a month. The market is holding onto most of its gains, last trading at $1,183.50 an ounce, up 2.7% since the start of the year. At the same time, March Comex silver futures last traded at $16.64 an ounce, up more than 4%.